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EFCC: Unlicensed foreign exchange dealer, Chike Agada arrested for N2bn fraud

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) have arrested an unlicensed foreign exchange dealer, Chike Agada for alleged N2 billion fraud.

EFCC in a statement said Agada, a native of Udi Local Government Area of Enugu State, was declared wanted by the Commission on Wednesday, October 11, 2023.

He was declared wanted for obtaining money by false pretence and stealing by conversion to the tune of N2 billion

The 37-year-old was arrested at a residence in the Bourdillion, Ikoyi area of Lagos on Monday, October 16, 2023 during a sting operation by operatives of the Commission, following credible intelligence linking him to the alleged scam.

Upon arrest, a mobile device was recovered from him.

He will be charged to court as soon as investigations are concluded, EFCC said.

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